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Golub Capital BDC
GBDC

167 hedge funds and large institutions have $797M invested in Golub Capital BDC in 2019 Q3 according to their latest regulatory filings, with 26 funds opening new positions, 59 increasing their positions, 48 reducing their positions, and 17 closing their positions.

New
Increased
Maintained
Reduced
Closed

103% more capital invested

Capital invested by funds: $393M → $797M (+$405M)

53% more first-time investments, than exits

New positions opened: 26 | Existing positions closed: 17

40% more funds holding in top 10

Funds holding in top 10: 5 → 7 (+2)

23% more repeat investments, than reductions

Existing positions increased: 59 | Existing positions reduced: 48

5% more funds holding

Funds holding: 159 → 167 (+8)

4.57% less ownership

Funds ownership: 37.21% → 32.64% (-4.6%)

84% less call options, than puts

Call options by funds: $294K | Put options by funds: $1.88M

Holders
167
Holders Change
+8
Holders Change %
+5.03%
% of All Funds
3.66%
Holding in Top 10
7
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+40%
% of All Funds
0.15%
New
26
Increased
59
Reduced
48
Closed
17
Calls
$294K
Puts
$1.88M
Net Calls
-$1.59M
Net Calls Change
-$2.34M

Top Buyers

Rank Fund Capital Flow
1
SO
STRS Ohio
Ohio
+$284M
2
SWPG
Strategic Wealth Partners Group
Illinois
+$32.3M
3
SI
Stephens Inc
Arkansas
+$16.2M
4
RC
RegentAtlantic Capital
New Jersey
+$15.1M
5
ZCA
Zeke Capital Advisors
Pennsylvania
+$10.9M

Top Sellers

Rank Fund Capital Flow
1
Thrivent Financial for Lutherans
Thrivent Financial for Lutherans
Minnesota
-$6.25M
2
AIM
Anchor Investment Management
South Carolina
-$3.08M
3
Two Sigma Investments
Two Sigma Investments
New York
-$1.83M
4
AL
Arnhold LLC
New York
-$1.7M
5
AM
Ares Management
California
-$1.25M
Name Holding Trade Value Shares
Change 		Change in
Stake
OAM
101
Oxford Asset Management
United Kingdom
$448K -$115K -6,394 -21%
TG
102
TCW Group
California
$435K – – –
DTL
103
Dynamic Technology Lab
Singapore
$417K +$406K +22,610 New
DIM
104
DC Investments Management
Virginia
$410K +$110K +6,118 +38%
RFN
105
RDA Financial Network
Iowa
$387K +$108K +6,020 +38%
WJWM
106
Williams Jones Wealth Management
New York
$349K +$340K +18,889 New
EWM
107
Evercore Wealth Management
New York
$347K – – –
LPL Financial
108
LPL Financial
California
$329K +$2.08K +116 +0.7%
Lido Advisors
109
Lido Advisors
California
$298K – – –
PSUF
110
People's United Financial
Connecticut
$296K -$50.4K -2,804 -15%
KFA
111
Kelleher Financial Advisors
New York
$293K – – –
EAM
112
Evanson Asset Management
California
$292K – – –
SFSIG
113
San Francisco Sentry Investment Group
California
$292K – – –
CMANY
114
Capital Management Associates (New York)
New York
$284K – – –
WSC
115
Wellington Shields & Co
New York
$284K +$277K +15,417 New
AIM
116
Allen Investment Management
New York
$281K – – –
MHS
117
M Holdings Securities
Oregon
$270K -$12.7K -705 -5%
RJFSA
118
Raymond James Financial Services Advisors
Florida
$262K -$9.17K -510 -3%
IA
119
IFG Advisory
Georgia
$255K +$19.8K +1,099 +9%
T. Rowe Price Associates
120
T. Rowe Price Associates
Maryland
$245K -$55.1K -3,063 -19%
MFG
121
Magnus Financial Group
New York
$245K – – –
WP
122
WealthSource Partners
California
$236K -$9.17K -510 -4%
SPC
123
Sigma Planning Corp
Michigan
$210K -$11K -612 -5%
Victory Capital Management
124
Victory Capital Management
Texas
$206K +$200K +11,139 New
KPW
125
Kore Private Wealth
New York
$205K – – –
3 4
5
6 7

GBDC Hedge Fund Activity: Q3 2019 in Review

167 of the 4,561 institutional investors tracked by Wall St. Rank reported a position in Golub Capital BDC (GBDC) for Q3 2019, worth a combined $797M — up 103% from $393M a quarter earlier.

Buyers outnumbered sellers: 26 funds opened new GBDC positions and 17 closed out — a net gain of 9 holders — while 59 added to existing stakes and 48 trimmed.

The largest buyer was STRS Ohio, opening a new position worth an estimated $284M. The largest seller was Thrivent Financial for Lutherans, exiting entirely with an estimated $6.25M sold.

  • 167 institutional investors held Golub Capital BDC (GBDC) as of Q3 2019, up from 159 in Q2 2019.
  • Funds reported $797M of Golub Capital BDC stock for Q3 2019, up 103% quarter-over-quarter.
  • 26 funds opened new Golub Capital BDC positions in Q3 2019 and 17 closed out, a net change of +9 holders.
  • The largest Golub Capital BDC buyer in Q3 2019 was STRS Ohio, an estimated $284M added.
  • The largest Golub Capital BDC seller in Q3 2019 was Thrivent Financial for Lutherans, an estimated $6.25M sold.

Based on aggregated 13F filings for Q3 2019.